Paytm Conquers the Indian Market with $1.2B Monthly Transactions in February
The Indian startup company processed 1.2 billion transactions in the month of February, making it a top competitor in the category with Google, Facebook, and Amazon. Its users performed the largest volume of transactions reported by any payments firm in India.
“We are humbled by the trust India has shown in us & made Paytm their preferred digital payments & financial service provider. We have consistently maintained industry-leading market share & growing at an impressive rate,” - Narendra Yadav, Vice President
Paytm is a Noida, India-based e-commerce payment system and financial technology company, and the pioneer of driving static QR codes in the past five years. They support over 17 million merchants and millions of users that pay utilities, groceries, movie tickets, and more. They offer a wide array of digital products throughout India, including a merchant payment platform, money transfers and bill payments. Paytm also has lending services, such as merchant cash loans, personal loans, and credit cards. Madhur Deora, Paytm President, says the company's ambition is to build an entire consumer ecosystem where their users can manage their lives, end to end, in one single app.